The Bourse de Montréal Inc. is bringing back an incentive program designed to encourage firms to hire and train more futures traders.
The derivatives exchange announced that it is renewing an initiative that can provide firms with an incentive of $1,500 per month for certain traders.
The program, known as the Futures Québec Proprietary Trading Firms Incentive Program, aims to “[support] trading firms in their efforts to recruit, hire and train new traders to utilize futures contracts listed on the Bourse,” it said.
Applications for the incentive, which is limited to 15 traders, are due by June 21. The program will run from July 1 to June 30, 2020.
“The Bourse will assess all the applications it receives and, in particular, will consider a firm’s proprietary activities and its reputation, financial resources, business plan and training program,” it said, adding that its decision on incentive recipients will be announced by July 1.